SeqLL announces 1-for-40 reverse stock split to regain Nasdaq compliance

ATLANTIC INTERNATIONAL CORP.

Reverse stock split at ratio 1-for-40, effective 11:59 p.m. ET on Aug 30, 2023.
Outstanding shares reduced from ~13.9M to ~347,160; authorized common increased to 300M.
Split intended to regain compliance with Nasdaq $1.00 minimum bid price requirement.
No fractional shares; any fractional shares rounded up to nearest whole share.
Stockholders' percentage interest unchanged except for fractional share adjustments.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ATLANTIC INTERNATIONAL CORP.: filed Certificate of Amendment to effect a 1-for-40 reverse stock split and increase authorized capital stock from 80,000,000 to 320,000,000 shares (effective 2023-08-29).

Change: charter amendment
Effective: 2023-08-29

Exact text from the filing

On August 29, 2023, SeqLL Inc. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Third Amended and Restated Certificate of Incorporation to (i) effect a reverse stock split of its issued common stock, par value $.00001 per share (“Common Stock”), in the ratio of one-for-40 (the “Reverse Stock Split”) to be effective at 11:59 p.m., eastern time, on August 30, 2023, and (ii) to increase the authorized capital stock of the Company to 320,000,000 shares, of which 300,000,000 shares shall be Common Stock, and 20,000,000 shares shall be Preferred Stock (the “Capital Stock Increase”).

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74 governance changes filed in the last 30 days. Browse all governance changes →

ATLANTIC INTERNATIONAL CORP. filing history →

Source: SEC EDGAR

accession 0001213900-23-072292

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